Dover Advisors LLC Acquires New Stake in United Bankshares, Inc. (NASDAQ:UBSI)

Dover Advisors LLC purchased a new position in shares of United Bankshares, Inc. (NASDAQ:UBSI) in the first quarter, HoldingsChannel.com reports. The firm purchased 86,052 shares of the financial services provider’s stock, valued at approximately $3,015,000. United Bankshares comprises 1.3% of Dover Advisors LLC’s portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of United Bankshares by 5.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,068 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 1,110 shares in the last quarter. Goldstone Financial Group LLC raised its position in shares of United Bankshares by 14.5% in the 1st quarter. Goldstone Financial Group LLC now owns 9,012 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 1,138 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new position in shares of United Bankshares in the 1st quarter worth about $303,000. Fifth Third Bancorp raised its position in shares of United Bankshares by 44.4% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 522 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its stake in shares of United Bankshares by 30.5% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 30,820 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 7,206 shares during the period. 70.80% of the stock is owned by institutional investors.

United Bankshares Price Performance

United Bankshares stock opened at $35.23 on Friday. United Bankshares, Inc. has a 52 week low of $30.51 and a 52 week high of $44.43. The company’s 50 day moving average price is $35.16 and its two-hundred day moving average price is $36.59. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.00 billion, a P/E ratio of 12.86 and a beta of 0.76.

United Bankshares (NASDAQ:UBSI) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). United Bankshares had a return on equity of 7.60% and a net margin of 22.94%. The firm had revenue of $289.61 million for the quarter, compared to the consensus estimate of $279.02 million. During the same period in the prior year, the business earned $0.64 EPS. United Bankshares’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that United Bankshares, Inc. will post 2.81 earnings per share for the current year.

United Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.37 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.20%. United Bankshares’s dividend payout ratio (DPR) is presently 55.02%.

Insider Buying and Selling

In related news, Director Sara Dumond purchased 2,600 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $35.01 per share, with a total value of $91,026.00. Following the acquisition, the director now owns 5,054 shares of the company’s stock, valued at $176,940.54. This trade represents a 105.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UBSI. Piper Sandler restated a “neutral” rating and issued a $38.50 target price on shares of United Bankshares in a research note on Wednesday, March 12th. Wall Street Zen downgraded United Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reduced their target price on United Bankshares from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, United Bankshares has an average rating of “Hold” and an average target price of $40.63.

United Bankshares Company Profile

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.